State estimates revenue, costs for legalizing marijuana

The state released a wide estimate range Monday for how much tax revenue could be generated by legalizing marijuana this November.

The Oregon State Financial Estimate Committee (which includes the Secretary of State, Treasurer and Revenue director) projected between $17 and $40 million in annual revenues.

That’s $1.5 million more than the $38.5 million estimate ECONorthwest produced for supporters of Initiative Petition 53, and it’s also $1 million more than the $16 million estimate the Legislative Revenue Office produced in late July.